The Institute of Financial Planning (IFP) has backed a project to examine the development of philanthropic investing in the IFA sector, as a number of leading new model advisers investigate moving into the space. Jun Merrett writes.

The IFP is encouraging its 2,000 members to take part in research led by Worthstone, which partners with philanthropic investment groups, into how the sector could grow among IFAs.

IFP chief executive Nick Cann said: ‘Philanthropy and social investing are important to consumers and therefore growing in importance for the financial planning community.’

Members of the Aurora group of advisers have met with Worthstone and social investment group Big Society Capital.

Aurora member Barry Horner, chief executive of Paradigm Norton, said the group was examining the investment opportunities. He said: ‘We are in a process of due diligence and research to see how we can take our support to the next stage. It is something that clients need to hear about.’